A recent Communications Authority of Kenya study reported a whooping 29.5 B having been lost in cyber related fraud in Kenya for the financial year 2018. This was about 38% upcharge from the previous year 2017.
Fraud has been singularly cited as the major hindrance to online business, with buyers citing substandard products and sellers, conning apart from other common eventualities like robbery etc.
Against this backdrop, JointPesa has innovated a solution to curb online fraud and to ensure online safety while transacting businesses. An e-commerce platform, JointPesa seeks to address and mitigate online fraud.
Speaking during the launch, Valentine Kilonzo, CEO JointPesa expressed her joy saying that this was the solution for online fraud what has led to business discontinuity and huge losses in money.
“We have successfully innovated an e-commerce platform that counteracts online fraud and ensures business continuity,” she said. Adding; “It will create about 2000 jobs to the youth willing to take online trading and reduce the unemployment problem in the country.”
The platform, endorsed by the Central Bank of kenya (CBK) for deployment, was rolled out in partnership with Fintech, Tujenge Pay among other industry players and comes as the first ever fraud mitigation platform for online business that protects both the seller and buyers against any unethical online dealings. Its theme is to ‘Create Trust in Business’.
Finserve integrates with JointPesa offering APIs for sending money (Send Money) and Instant Payment Notification(IPN), Integrated Population Registration Service (IPRS) and Payment gateway (PWG) in both in KES and USD.
“There is nothing better than a homegrown solution for homegrown problems,” noted a speaker at the launch event who recalled her encounter with online fraud as having being horrific.
The anonymous speaker had ordered for a dress online and keyed in her credit card details for financial commitment but never got her dress todate! Fearing for potential future fraud and because her credit card details were already shared, she had to renew her card.
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